One Coin to Rule Them All?

[davidpbrown]

I wondered that since each currencies address is distinct, there might be an opportunity to make life simple for merchants and have one address that can accept all coins.

?..

[emfox]

Currently you could do this across bitcoin, devcoin and terracoin, cause their address type are the same.

[StephenJH]

http://www.terracointalk.org/index.php/topic,215.0.html

Walter was explaining this a bit.

[davidpbrown]

I knew DVC was mapped to BTC as that's the idea behind rewarding devs but surprised that TRC chose to do that.

I'm thinking more about how to manage multiple flavours of currency through one contact point. You only need to look at some sigs here to see that declaring multiple addresses is rather inelegant.

[St.Bit]

I wondered that since each currencies address is distinct, there might be an opportunity to make life simple for merchants and have one address that can accept all coins.

?..

It would make life even more complicated. Every customer in BTC already gets its own adress so it's easier to track transactions. There'd be no real advantage between generating one or 5 adresses since you'd have to give 5 different prices and check 5 adresses.

That might work for donations,but you would have to inform people that you accept donations in altcoin and there would be lot's of idiots who donate the wrong altcoin to a charity that doesn't accept that one but has a adress that does. Or to the wrong adress like spikey ...

[davidpbrown]

I'm expecting that clients will become more clever about how they interact with other coins or bad addresses.

Right now I have

Code:

Bitcoins	BTC://1CBxm54Ah5hiYxiUtD7JGYRXykT5Z6ZuMc
PPcoins		PPC://PKgsutTVXNVFdUm8qJXNBisxLmKRrXZerN
Litecoins	LTC://LYJHruZ8X7Va5ZHQ4pLucV76THU62uLLGZ
Devcoins	DVC://1WHnPwJm4aML9n7DUYh82K5JqyUQWFF67
Namecoins	NMC://NBSiyMWScmmJaX8FDTuSbpevLWCaUTsCir
Terracoins	TRC://1LrYpkSEm2ry88N6bJEjYtjMxm2e77HXrk
BBQcoin		BBQ://bHF5B8dnfxV9mPz5DptH8iKNWMB9SpdbEY
Bytecoin	BTE://8U4wFX4CbDnmHCL2zPnPKtrEjcW5iQ26Nu
Feathercoin	FC://6hKWr8zPYVPhcEsZ3DkfV3beDmBJb59Erq
IXcoin		IXC://xbo1WiDYc27oWWrtt19EtUk5k3FgvknYVV
Mincoin		MNC://MTcCLVYXmHUymPkaS8GgucfWK6WnrCg5ho
Novacoin	NVC://4TZTnG5Bzose6g71SXj1xL68v2BZMiApqe
Ripple coins	XRP://rJ2zDmzhxQNspB6RsxKgp8Ro1odEsACCEx

Where I could just have

Code:

Chest://davidpbrown

Coins maybe should not behave like they are in a vacuum. They have to avoid rpcport and decide whether their addresses overlap, so why not be considerate about usability? Maybe it'll happen naturally but the sooner a standard is set the more likely all will use it; otherwise we'll end up with a multitude Bitpay et al doing their own management of one person - one reference point. It's not as if cryptocurrencies are likely to be bound by locations.. everyone will see many flavours at this rate.

2¢